President Obama and the first lady, Michelle Obama, visited a Marine Corps base in Hawaii on Sunday. Prime Minister Shinzo Abe of Japan will join Mr. Obama in Pearl Harbor today to honor those who died there 75 years ago.CreditCarolyn Kaster/Associated Press

The president-elect is formulating plans to extricate himself from his family’s business. An examination of the company shows how complex that would be.

Business

• Donald J. Trump suggested a “tax holiday” for companies would create jobs in America. But executives could use much of the cash to acquire businesses, to buy back their own stock or to pay down debt instead.

• Seller-financed housing contracts, which relieve the true owner of a home of the responsibility for fixing it, may have aggravated the problem of lead poisoning among young children.

• The year’s best apps:Our picks include NPR’s one-stop shop for fascinating audio and an upgraded beer-tracking app.

Pakistan’s defense minister threatened Israel after a false article online — which he apparently believed — said that Jerusalem would not hesitate to destroy his country with nuclear weapons. “Pakistan is a nuclear state too,” the minister said.

• ... and to partisan smears.

In the U.S., many are using the term “fake news” for any articles they see as hostile to their agenda. “We’ve effectively brainwashed the core of our audience to distrust anything that they disagree with,” one conservative radio host said.

Noteworthy

• Winners, losers and cheaters.

Olympic glory for Michael Phelps and Simone Biles; the deaths of Arnold Palmer and Muhammad Ali; a baseball prospect turned hit man. These are among our top sports stories of the year.

• Human towers in Spain.

People in Catalonia climb on top of one another to create towers called castells, sometimes up to 10 tiers high. Step inside a town square as one goes up in our latest 360 video.

Video

In a practice unique to Catalonia, people climb on top of each other to create towers called castells, sometimes up to 10 tiers high. Step inside a town square as one goes up.Published OnDec. 26, 2016CreditImage by Drew Gardner for The New York Times. Technology by Samsung.

• Move over, Marie Kondo.

“Hygge” (pronounced HOO-gah) is a way of life imported from Denmark that extols coziness. “Danes see hygge as a part of our culture,” one observer said, “the same way you see freedom as inherently American.”

Obi wears goggles to protect his eyes from the laser beams he flies through.CreditEric Gutierrez/Lentink Lab, Stanford University

• Recipe of the day.

Consider this lunch classic for dinner: A light and crunchy schnitzel with an herb salad is a perfect weeknight meal.

Back Story

Christmas Day may be over, but reminders of the holiday are most likely scattered around your home and office, or perhaps hiding inside a coat pocket. We’re talking about candy canes, whose ubiquity is matched by the legends surrounding their creation.

One tale dates the candy to 1670, when a choirmaster at a cathedral in Cologne, Germany, needed a way to keep children entertained during long Christmas services.

Image

Crushed candy canes can be added to ice cream or cookies.CreditBettman